Canadian hiring surprised to the upside in June. The 60 thousand increase in employment last month – the highest since January – came in triple expectations of a 20 thousand rise and follows a 17 thousand decline in…
Last week’s labor market data signal that US employment conditions remain strong – solidifying the case for a 25 bps rate hike at the Fed’s next meeting later this month (see The Numbers). Yet in order for…
BCA Research’s Foreign Exchange Strategy service uses three simple rules when trading the dollar over a medium-term horizon (12-18 months). What could the macro outlook look like? What is happening to valuations? And where…
In this short weekly report, we review some of the most common questions clients asked us in the last few weeks.
Global stocks fell and sovereign bond yields surged on Thursday following the release of stronger-than-anticipated US labor market data. Data released by Challenger, Gray, & Christmas showed job cuts declined to 40,709…
Yesterday we highlighted that falling producer prices foreshadow lower CPI inflation in the Eurozone and argued that this dynamic is positive for the bloc’s consumption outlook. Easing price pressures will ultimately lift…
According to our Counterpoint strategy service, latest nowcasts indicate that world growth has likely slowed to sub-2 percent, thereby passing the threshold of a typical world recession as experienced in the early 1970s, early…
According to BCA Research’s China Investment Strategy service, although the recovery in overall Chinese industrial profits will be subdued, there will be a silver lining among China’s consumer goods producers, autos…
On one hand, China will be exporting deflation to the rest of the world. On the other hand, core inflation is sticky in the US, making the Fed err on the hawkish side. Altogether, these crosscurrents are creating a toxic mix for risk…
Eurozone producer prices fell by more than anticipated in May. The -1.5% y/y decrease – which marked the first annual drop since December 2020 – was more pronounced than expectations of a -1.3% y/y decline and…